An activity ratio calculated as cost of goods sold divided by inventory.

Nike Inc.'s inventory turnover deteriorated from 2013 to 2014 and from 2014 to 2015.

Receivables turnover

An activity ratio equal to revenue divided by receivables.

Nike Inc.'s receivables turnover deteriorated from 2013 to 2014 but then improved from 2014 to 2015 exceeding 2013 level.

Payables turnover

An activity ratio calculated as cost of goods sold divided by payables.

Nike Inc.'s payables turnover declined from 2013 to 2014 and from 2014 to 2015.

Working capital turnover

An activity ratio calculated as revenue divided by working capital.

Nike Inc.'s working capital turnover improved from 2013 to 2014 but then slightly deteriorated from 2014 to 2015.

Average inventory processing period

An activity ratio equal to the number of days in the period divided by inventory turnover over the period.

Nike Inc.'s average inventory processing period deteriorated from 2013 to 2014 and from 2014 to 2015.

Average receivable collection period

An activity ratio equal to the number of days in the period divided by receivables turnoverd.

Operating cycle

Equal to average inventory processing period plus average receivables collection period.

Average payables payment period

An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.

Nike Inc.'s average payables payment period increased from 2013 to 2014 and from 2014 to 2015.

Cash conversion cycle

A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.

Nike Inc.'s cash conversion cycle deteriorated from 2013 to 2014 but then improved from 2014 to 2015 exceeding 2013 level.

A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.

Nike Inc.'s cash conversion cycle deteriorated from 2013 to 2014 but then improved from 2014 to 2015 exceeding 2013 level.